May 14, 2020

Dear Sir/Ma’am,

Sub: Investor Presentation – Q4FY20 & FY20

Pursuant to Regulation 30 (6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”) read with Part A of Schedule III of the Listing Regulations, we are enclosing herewith the Investors’ Presentation for Q4FY20 & FY20.

Pursuant to Regulation 46 (2) (o) of the Listing Regulations, the aforesaid information is also being made available on the website of the Company i.e. www.bluestarindia.com

Thanking you, Yours faithfully, For Blue Star Limited

Vijay Devadiga Company Secretary

Encl: a/a

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BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

BSE Scrip Code: 500067

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

NSE Symbol: BLUESTARCO

Blue Star Limited Investor Presentation – Q4FY20 and FY20

1

May 13, 2020

About Blue Star

• India’s leading air-conditioning, commercial refrigeration and MEP

contracting company

• Total Revenue from Operations: ~ Rs. 5360 crores

• Employee Strength: 2885

• 5 manufacturing facilities; 32 offices; 3900 channel partners

• Presence in 18 international markets in the Middle East, Africa,

SAARC and ASEAN regions

• Comprehensive solutions for corporate, commercial, residential

customers

• Winner of the prestigious Golden Peacock Awards, 2019 for 2

categories – (a) Excellence in Corporate Governance and (b)

Corporate Ethics

• Winner of ICSI Best Governed Company (Listed Company : Medium

Category) – 2019 award.

2

Blue Star – Vision & Credo

Vision :

“To dream, to strive, to care and, above all to be the

best in everything we do.”

3

Credo :

“I am Blue Star. I take pride in delivering a world-

class customer experience.”

Governance Structure

Governance Structure

Board of Directors

Anil Harish Independent

Director

Dinesh Vaswani Non-Executive

Director

Vir S Advani Vice Chairman & Managing Director

Suneel M Advani

B Thiagarajan Managing Director

Ashok M Advani

Rajiv R Lulla Non-Executive

Director

Chairmen Emeriti

Shailesh Haribhakti Chairman

Sam Balsara Independent

Director

Rumjhum Chatterjee Independent

Director

Arvind K Singhal Independent

Director

Sunaina Murthy Non-Executive

Director

4

Business Segments

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Segment I Electro-Mechanical Projects and Commercial Air Conditioning Systems

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Electro-Mechanical Projects

• Design, engineering, procurement and execution of MEP projects

in buildings, factories and infrastructure (Metros & Airports)

segments

• Large central air conditioning & ventilation projects

• Electrical projects

• Plumbing projects

• Fire-fighting projects

• Mechanical EPC projects in large Industrial sector & Electrical

EPC projects for Electrical substations

• Our Value Proposition

Superior project delivery through intelligent engineering,

modern execution practices, and committed teams

• Awarded ‘MEP Contractor of the year’ in Sep 2019.

7

8

Commercial Air Conditioning Systems

• Complete range of energy-efficient Packaged

and Ducted split air conditioners

• Innovative new generation Inverter ducted

system

• VRF V Plus, the fifth generation VRF designed

for Indian conditions and higher efficiency

• VRF IV S, Side Discharge system for

Residential and medium sized commercial

applications.

• Highly Energy Efficient Water Cooled VRF

• Highly Channelized Business – 525 dealers in

175 towns

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9

Commercial Air Conditioning Systems

• Highly efficient 5 Star rated

Configured Oil Free chillers

• Mix and Match Configured Series-

Air-Cooled and Water-Cooled

Screw chillers

• Energy-efficient 3 Star Inverter

scroll chillers

• Process chillers for industrial and

non-comfort cooling applications

• Wide range of Centrifugal Chillers

from 350 TR to 4000 TR

9

After Sales Service

• India’s largest air conditioning and refrigeration service

provider

• Maintaining around 2 million tonnes of air conditioning and

refrigeration equipment

• Reach to more than 4000 towns handling > 1.2 million service

calls a year

• Runs an excellence programme titled “Gold Standard service”.

Same day installation and response time of 3 hours and

turnaround time of 18 hours

• ISO 9001-2015 and ISO 45001 certified

• Offers Engineering Facility Management covering operation

and maintenance services for electro-mechanical utilities

10

International Business

• Headquartered and managed by the Company’s wholly owned

subsidiary at Dubai.

• Offers Air Conditioning and Refrigeration products, after-sales

service as well as system integration in global markets.

• Product portfolio includes Unitary products, DX Commercial,

refrigeration and Applied systems products.

• Focus on building a larger international footprint by enhancing

reach of distributors, channel associates.

• International projects managed by the Company’s international

joint ventures in Qatar and Malaysia.

• State–of-the–art exclusive showroom at Dubai. Displays a

complete range of our latest energy efficient products for the

Middle East.

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Some of our prestigious projects

Parliament House

Bangalore Metro

Chhatrapati Shivaji International Airport-T2

Gift City

Tata Power - HT Substation Tata Steel

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Some of our prestigious international projects

China Centre, Seeb, Oman Al Dafna West Bay, Doha

Kuala Lumpur Grand Hyatt , Malaysia Polonnaruwa Auditorium, Sri lSanka

Qatar University, Qatar Lexus Car Show room,DFC,Dubai

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Segment II Unitary Products

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Room Air Conditioners

• Installed base of over two million units.

• Products available in 6000 outlets in more than 650

locations across the country.

• Focus on inverter technology and energy efficient

products.

• Focus on residential as well as corporate and

commercial customers

• Aesthetics and low noise make our products widely

recommended by interior designers

• Higher quality consistent performance under various

Indian conditions

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140.0

80.0

5.4

Global China India

Market Size (Units in millions) – FY20

30.0%

60.0%

6.0%

Global China India

Penetration % - FY20

10.5% 11.1% 11.5%

12.3% 12.5%

FY16 FY17 FY18 FY19 FY20

Blue Star Market Share (%)

Low penetrated market and growing middle class purchasing power offer immense opportunity for growth…

Commercial Refrigeration Products

• Wide range of commercial refrigeration equipment

• Market leader in most of the segments

• Products having latest technology with innovative features:

– Deep Freezers

– Bottle Coolers

– Visi Coolers/Freezers

– Storage Water Coolers/Dispensers

– Bottled Water Dispensers

– Ice Cubers/Flakers

– Cold Rooms

– Commercial Kitchen Refrigeration

– Medical Refrigeration

– Supermarket Refrigeration

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Water Purifiers

• Comprehensive range of stylish value for

money as well as premium and

differentiated range of RO+UV+UF

products across price points from Rs 7,900

to Rs 46,900

• Unique features such as cold and hot water,

filter change alerts, aqua taste boosters and

electronic dispensing

• Available in over 450 towns with ~200

channel partners and 3000 retail points

• Won the Water Digest Awards 2019 for

‘Best Domestic RO+UV Purifier’ in the

country for the third time in a row

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Manufacturing Facilities

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5 State of the art

Automated Factories

DADRA

WADA AHMEDABAD

Kala Amb – Village Ogli (HP)

Kala Amb - Rampur

Jattan (HP)

Manufacturing Facilities

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• Specialise in manufacturing a variety of highly engineered and

custom-built products.

• Manufacturing footprint of 1 lakh square meter.

• Over 300 models manufactured across 25 product lines.

• Lean manufacturing and world-class practices.

• Green Building initiative - Wada factory certified ‘Green factory’ –

Gold category from IGBC and Solar plant installed at Dadra.

• Capacity expansion underway in line with growth.

• Intelligent I-Factory through application of Industry 4.0 for Real-time

monitoring of assets to improve overall equipment effectiveness,

Utility & Energy.

• Successful implementation of Manufacturing excellence program,

Blue star has now embarked upon complete process improvement

• Automation of processes using robots and Cobots

Manufacturing Facilities

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• Using Product Life Cycle to improve New product Introduction

process

• Improved Operators efficiency through Digital Work Instruction,

Augmented reality, Auto guided vehicle, Additive manufacturing,

Poka Yoke, e QMS, Automatic storage & retrieval system

• Usage of advance techniques like Advance Planning & Scheduling ,

Business process Continuity, Virtual factory 3D simulation modelling,

3D plant layout, Predictive analytics

• Product monitoring & traceability though QR Code, logistic

monitoring thru specially designed sensors and remote monitoring

of products like chillers

• Manufacturing factories are ISO 9001-2015 & ISO 45001:2018

certified by TUV Nord

Research & Development

• Department of Scientific & Industrial Research (DSIR) approved

R&D facilities

• Consistent investment in R&D to enhance company’s product

offerings and technical capabilities

• Focus on energy efficient and sustainable products and

technologies

• High level of product development and testing capabilities with

several patents for new breakthrough products

• Enhanced electronics design capability for variable speed

products and smart controllers

• NABL (ISO-17025) accredited laboratories for performance

testing of products

• Third party safety compliance test facility

22

Segment III Professional Electronics & Industrial Systems

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Professional Electronics & Industrial Systems

• Managed by the Company’s wholly owned subsidiary, Blue Star

Engineering & Electronics Ltd

• Lines of Business include:

– Healthcare Systems: MRI & CT Scanner

– Data Security Solutions: Payment HSM, PKI, Encryption

– Infra Security System: Video Surveillance, Traffic Management

– Communication Systems: Satellite Test Equipment, Radio Frequency

recorders

– Testing Machines: UTM, Hardness Testers, Chambers

– NDT Systems & Industrial Automation: Ultrasonic, Eddy Current

Systems, X-Ray, MPI, Bagging, Truck Loading

– NDT Products: Ultrasonic, RVI, X-Ray, CT, CR, Metrology

– Industrial Products: Pumps, Valves, Filters, Analysers

• Evolved from being only a distributor of leading global manufacturers

to a high end system integrator and value-added reseller 24

Financial Performance

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Revenue (Rs Cr)

347

283

FY19 FY20

EBITDA (Rs Cr)

248

210

FY19 FY20

PBT (Before exceptional items) (Rs Cr)

19.75

14.87

FY19 FY20

Earnings per share (EPS) (Rs )

Financial Performance – FY20

5235 5360

FY19 FY20

27

244

155

FY19 FY20

Net Borrowing (Rs Cr)

0.3

0.2

FY19 FY20

Debt / Equity (times)

5.3

5.7

FY19 FY20

Capital Turnover (times)

30%

25%

FY19 FY20

Return on Capital Employed (%)

Balance Sheet indicators – FY20

*

28

2748 2827

FY19 FY20

Segment Revenue (Rs Cr)

151 120

FY19 FY20

Segment Results (Rs Cr)

515 448

FY19 FY20

Capital Employed (Rs Cr)

31%

25%

FY19 FY20

Return on Capital Employed (%)

Segment 1: EMP and Commercial Air-Conditioning systems

Blue Star continued to maintain its dominant position in integrated MEP space.

Orders Booked

(Rs Cr)

29

2952 3105

FY19 FY20

Growth of 11%

Carry forward Orders

(Rs Cr)

2283

2813

FY19 FY20

Segment 1: EMP and Commercial Air-Conditioning systems

30

2269 2301

FY19 FY20

Segment Revenue (Rs Cr)

186 162

FY19 FY20

Segment Results (Rs. Cr)

469

304

FY19 FY20

Capital Employed (Rs Cr)

44% 42%

FY19 FY20

Return on Capital Employed (%)

Segment 2: Unitary Products

Thank you

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